As the income tax deadline approaches, here is some important information about PBGC benefits and taxes.

While PBGC is required to withhold federal income tax, we do not withhold for state taxes. If your state has an income tax, you may owe tax on your PBGC benefit. To find out more, contact your state tax office (Excel file, 14.4 KB).

Also, if you receive a benefit from PBGC, we report the amount annually to the IRS.

For income tax purposes, each January PBGC sends you an IRS Form 1099-R that states the amount we paid you the previous year.

There isn't any doubt that the economy has taken a big hit in recent years.

As the housing market begins to rebound and the stock market hits a new high, the percentage of Americans who are confident that they will have enough money for a comfortable retirement is the lowest it has been in 23 years.

According to the latest Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI) only 13 percent were very confident of having a comfortable retirement, while 38 percent were somewhat confident, 21 percent not too confident, and 28 percent not at all confident.

Some of the biggest factors influencing the drop in confidence are high debt levels, and uncertainty about employment.

Do you have any idea where the United States ranks when it comes to retirement security? You guessed first place? No, that's not it.

Second? Not that either.

In fact, the U.S. barely made the top 20 ranking. The U.S. ranked number 19, among 150 countries listed by retirement security, behind many Eastern and Western European countries, according to Natixis Global Asset Management firm.

The Natixis Global Retirement Index "gauges how well retired citizens live in 150 nations" based on 20 measures of health, wealth, quality of life and "material well-being" that affect citizens' retirement security.